STOCKHOLM (dpa-AFX) - Groupe SEB said that it signed an agreement with KKR to buy German group WMF, the global leader in professional coffee machines and German leader in cookware. The transaction value is 1.585 billion euros, based on a purchase price of 1.020 billion euros and on 565 million euros of assumed net debt, as of 31st of December 2015. In addition, the Group takes over 125 million euros of early retirement and pension liabilities.
The deal will be strongly accretive (more than 20%) in terms of earnings per share from the first full year of consolidation.
The deal will be submitted to the relevant competition authorities which approval is expected to occur in the second half of 2016.
Copyright RTT News/dpa-AFX